Gitlab Stock Soars 12% As Q1 2023 Revenue Increases by 75%
(GitLab) Shares of GitLab rose almost 10% in premarket on Tuesday after reporting a revenue of $87.4 million in the first quarter of 2023. The revenue was 75% higher than…
BNB Falls Under SEC Radar in Alleged Security Offering Rule Breach
(Bloomberg) The world’s fifth-largest cryptocurrency BNB is under investigation by the US Securities and Exchange Commission on allegations it was offered as security in 2017. SEC reportedly argues that Binance…
Twitter Falls 4% as Musk Considers Abandoning $44B Deal
(FT) Twitter stock fell more than 4% on Monday after Elon Musk said he might abort the $44 acquisition deal. Musk said that Twitter failed to satisfy his demands regarding…
Biden Boosts Solar Stocks on Reports He Will Suspend Tariffs on Solar Panels
(Reuters) Shares of US Solar companies rose on Monday by double digits on reports that President Joe Biden will suspend tariffs on solar panels from four countries. Shares of Sunrun…
PancakeSwap’s Token Jumps Nearly 10% As Binance Discloses Investment
(Binance) PancakeSwap native token CAKE rose almost 10% on Monday after Binance Labs made a “strategic investment” in the utility governance token. Binance Labs said it intends to channel the…
Didi Stock Jumps 53% On Reports China Is Concluding Probes
(WSJ) Didi stock jumped more than 53% in premarket on Monday after reports emerged that Chinese regulators were concluding a probe on the ride-hailing giant. Reprieve was also reportedly granted…
What You Need to Know as Post-Split Amazon Stock Starts Trading
(SEC) Amazon shares start trading at around $122 on Monday, in line with the company’s 20-for-1 stock split already approved by shareholders. The stock split will take Amazon’s shares from…
China’s Services Activity Remains in the Contraction Zone but Improves in May
(S&P Global) China’s headline Business Activity Index was posted at 41.4 in May, the third straight month the gauge has indicated contraction in the service sector. The contraction in the…
Oil Hovers Around $120 a Barrel as Saudi Arabia Hikes Prices More Than Expected
(Bloomberg) The West Texas Intermediate oil rose to almost $120 a barrel on Monday after Saudi Arabia surprised markets with higher-than-expected crude price increases. Saudi Arabia increased the price of…
US Services Activity Soften as Input Costs Hit a Record in May
(S&P Global) US services sector showed slowdowns in May, with the PMI at 53.4, below 55.6 in April. The index signaled the slowest expansion since January. Domestic and foreign demand…
Turning Point Therapeutics Stock Jumps 116% on Acquisition by Bristol Myers
(Turning Point) Shares of Turning Point Therapeutics rose more than 116% on Friday after agreeing to be acquired by Bristol Myers Squibb at $76.00 per share. The all-cash deal values…
Tesla Stock Falls 8% as Elon Musk Says He Wants to Cut 10% of Jobs
(Reuters) The shares of electric carmaker Tesla fell more than 8% on Friday after CEO Elon Musk said he needs to trim 10% of jobs in the company. The emailed…
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